What is Tally :-

Tally is a financial accounting package. It is a complete business accounting and inventory management software that provides various facilities like government supported formats, multilingual operations, online functions and processing for small and medium businesses. Tally products are transforming businesses across industry in over 94 countries. Latest version is Tally ERP9.

Tally Solutions, then known as Peutronics, was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka.

In 1988 the product was renamed as Tally.

In 1999 the company formally changed its name to "Tally solutions Pvt. Ltd.”

Founder - Shyam Sunder Goenka, Bharat Goenka

Products - Tally ERP 9, Tally Server9

Founded-1986

Headquarters - Bangalore, Karnataka, India

Versions of Tally software :-

➤ Tally 4.5

tally released this version in 1994 which ran on MS-DOS.

➤ Tally 5.4

this version released in 1996 which ran on windows operating system.

➤ Tally 6.3

this version released in 2001 (educational / license version).

➤ Tally 7.2

this version released in 2005 which provides various types of taxes such as TDS, VAT & TCS along with service tax modules.

➤ Tally 8.1

this version released in 2006 which supports multi languages. It supports 10 languages.

➤ Tally 9.0

this version released in 2009 this is an enhanced version over the earlier 8.1 it support 13 languages, including foreign ones and also includes payroll, POS (point of sale).

➤ Tally ERP 9

this is the latest version released in 2015 which is a complete business solution. Includes networking, GST, data security and several more.

Shortcut Keys:-

1. CTRL + F1: Selects the payroll voucher from Inventory Voucher or Accounting Screen.

2. CTRL + F2: This key selects the Sales Order Voucher from Accounting and Inventory Voucher Screen from Tally ERP 9.0.

3. CTRL+F4: The key selects Purchase Order Voucher from Accounting Entry Screen.

4. CTRL + F10: To go to the memorandum voucher screen.

5. CTRL + F9: Go to Debit note voucher from the Gateway of Tally.

6. CTRL + F8: Go to the Credit note voucher screen.

7. ALT + J: Job work Issue/out Screen

8. ALT + W: Job Work Receipt Voucher

9. F1: Select or open the Company from the gateway of Tally.

10. F2: Change the Current Date

11. F4: Contra Voucher

12. F5: Payment Voucher

13. F6: Receipt voucher

14. F7: Shortcut key Journal Voucher

15. F8: Sales Voucher Screen

16. F9: Purchase Voucher Shortcut

17. F11: Tally Features Configuration

18. F12: Configure Tally setups for a voucher, Generate, Printing, Licensing, etc.

GST-Related Shortcuts in Tally:-

These are some of the new keys for GST-related Transactions in Tally.

1. CTRL + O: Opens the GST portal Website

2. CTRL + E: Export the selected GST Return

3. CTRL + A: View accepted the voucher as it is.

4. Alt + S: Opens Statutory Payment Screen

5. Alt + J: Make Statutory adjustments in a 

BALANCE SHEET:-

Balance sheet is the top mos Floancial statements that reveals the State of affairs of the company s on the state of reports

Balance sheet also reports a Carapar assets. Ifabilities, and net worth These ase prepared at the end of an assounan period

Balance sheet is based on the Form Assets = liabilities + Net worth.

Compepents of the balance sheet

Assets

Current Assets

Fixed Assets

liabilities

current liabili 

Fixed liabilitie

TABILITIES 

1. Assets:-

All the prepeaties held by the bus Desemon used without any intention of Selling at profit are called "Assets"

Assets can be defined as the valuables thek the company owns to benefit from an ae used to generate income.'

a) Current Asselst:-

The assets which are chan every short lezm one Ferro to ancet Exequently are called "cuzacnt Assets

Like Include the carb, accounts receivable fas pard expenses and all that can be con into cash within a year

2) Fixed Assets:-

Assets which are purchased equib business held for long peated of are called as "Fixed Assel's It also ad as long team Assets 

Eg: plant and machinery, vehicles, lands a bullding, etc.

3.liabilities:-

The amount payable by busines Eam to the outsiders are known as liabilities

libality are debts owed by the bus t pess, these are classes of the creditors, against the assets of the business. liability are classified rato current liabilities and Fixed liabilities.

current liability:-

Owing of business tow outsiders for a sheat duration are ("Current llability":

Current liability ase Accounts payable accused expenses, taxes payable any thes obligation due within a year.

b) Fixed liability:-

Owing of business of permal nature are called as fixed liability. liability. Disabled It is also called as long lean

Capital:-

         Capital means total axolint tovested to business in the accounting sense of called a Capital

Capital is the excess of assets over. liabilities

Capital is a team for financial assets. as Funk held in deposit accounts, as well as For the physicals Factors of poduction. that is manufactising equipment

Capital Over liabilities

Example of capital:

While money is used to purchased goods and services for consumpt capital is more duzable and is used to generate wealth through investment.

Example of capital include autemollis. patents, goftware and brand names.
 
drawing :-

Anything withdraw by a popalette From business for hisl her personal und is called 'Dracon.g

Drawing can occur by withdrawroz cash from bustness account but can also include anything that is considered a business assets, such as producte or equl Pments that is removed from the bu hess For personal use by the proners

Anytype of drawing seduce the Capital or owners equity of a busin to it is Priportant to keep back of the drawings and manage them when you're accounts.

However, drawing are not considers a business expense.

Debtore:-

Deblos is a persen estic owre Sorotiking

A debted to a pasen. Sompany or s entity that was money. In eities acids the debtes has a deblier legal ebligation to say the amount owed.

Example of Debtor

creditor:-

IE company boaseins Rs. 10.00ct.fa bonk the cervopany is the inbyeo and the bank is the credited.

A person to where stito Cine Debtor) is known as creditor!

A creditors could be a bank, Suplier es person that has provided manby, god er services to a company and expect is be pand. st a later date. In other we the company owes Money

Example of creditor

XYZ Bank, to whom you go to for s loan. If you are approved and the lend you money, xyz becomes you ke creditors 

ABC Company Malling Name

Company Narne cannot be duplicate.

2] But malling Name may be duplicate

3) To create a company [Press Inity ]